Exxon Mobil

And the critics today are for sure cursing themselves hoarse for having jeered at all oil and auto majors who ever dared to imagine that alternative fuels must be sought after. Now here we are – neck to neck and running the race for survival against time... winning would mean victory and ‘life’, while losing out... extinction! So what are the various oil behemoths doing when it comes to discovering alternatives? Exxon Mobil CEO Rex Tillerson, with previous imbroglios weighing on his mind, doesn’t like to ‘sound’ too green savvy anymore, “We’re only going to invest our shareholders’ money where we think they can get the kind of returns they expected when they invested their money with Exxon Mobil.” Nevertheless, the $475.5 billion Exxon Mobil (who critics call a ‘laggard’ in the whole revolution), which during 2006, amassed an imposing $39.5 billion in net profits from fossil fuels, is currently financing a $100 million decade- long Stanford’s Global Climate and Energy project, which is exploring avenues to generate alternative fuels including the muchdebated cellulosic ethanol. Exxon also has tied-up with various agencies and companies to work on green-fuel technology. For example, with the EU, it is working on a carboncapture project.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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